Friday, 21 September 2018 | News today: 12

ArcelorMittal submits divestment proposals to EC for assets in Macedonia, five other countries

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ArcelorMittal has submitted divestment proposals to the European Commission aiming to secure EU competition clearance for its purchase of Italian steelmaker Ilva, the world’s largest steel producer said on Friday, Reuters reports.

The proposed divestments include assets in Belgium, Czech Republic, Italy, Luxembourg, Macedonia and Romania, the company said.

The Commission is seeking feedback from rivals and customers on Arcelor’s proposed concessions before deciding whether to clear the Ilva deal. It is expected to rule on the deal by May 23.

ArcelorMittal reached a 1.8 billion euro ($2.22 billion) deal in June 2017 to acquire Europe’s biggest steel plant.